Diesta funding news – London-based Diesta Secures $3.8 Million Seed Round Funding

Led by FinTech Collective, a prominent VC firm based in New York, the round also saw participation from Commerce Ventures, along with continued support from existing investors Restive Ventures and SixThirty.

This significant investment comes on the heels of Diesta's $2 million pre-seed round just last year, underscoring the company's rapid growth as it expands its platform across the UK, Europe, and the US.

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The insurance sector, responsible for processing over $1.75 trillion in commercial premiums annually, faces challenges stemming from its fragmented nature and reliance on outdated manual processes. Notably, inefficiencies within premium payment allocation lead to an estimated annual loss of $32 billion, emphasizing the critical need for innovation in the industry.

While digitisation is streamlining policyholder and claims payments, B2B payments within the insurance value chain remain a significant challenge. This issue impacts every facet of the industry.

Co-Founder and CEO Julian Schoemig, who is announcing the raise today at the ITC Vegas conference, remarked: “We’re addressing one of the insurance industry’s biggest back-office challenges—premium payments. We’ve shown that we can bring digital payment innovation to a space long considered an unsolvable burden. By working with everyone from nimble insurtechs to some of the largest brokers and MGAs in the London market, we know that the Diesta platform can deliver immense value for entities of all sizes. We are thrilled to have the backing of such high-profile investors as partners in our growth journey.”

Diesta is revolutionizing the insurance industry with its cutting-edge technology, serving as the financial operations backbone for companies in the sector. By consolidating payment and premium data sources into a unified platform, Diesta is driving significant efficiency gains and unlocking new revenue streams in an industry known for its manual processes.

Notably, Diesta has made significant strides in the London market, attracting a diverse client base that spans emerging insurtech firms to established enterprises with revenues surpassing $1 billion.

Toby Triebel, Partner at FinTech Collective said, “The status quo surrounding payment processing in the insurance industry is stuck in the 20th century and cannot last” We are thrilled to partner with the Diesta team on their mission to reimagine this industry from the ground up. Their vision to eliminate premium processing time and costs, offering real-time payments, reconciliation, and treasury management has resonated strongly since the first meeting.”

With a new round of funding, Diesta is gearing up to expand its footprint across the UK, Europe, and the US. The focus is on enhancing the platform, offering cutting-edge functionality to insurance finance teams through AI integrations and fintech partnerships.

About Diesta

Diesta is developing payment software to modernize the flow of funds in the insurance industry. The result is significant cost savings and sales increases. If you work for an insurance broker or agent, reach out and learn how you can push your company ahead of the competition.